The index’s defensive sectors were hardest hit in April, health and consumer staples falling 6.9 per cent and 4.0 per cent respectively.

CSL led the rot in health stocks after its US rival, blood plasma giant Baxter, downgraded profit and said the global plasma market was under pressure.

Sonic Healthcare was also down, but ResMed climbed into positive territory on the back of its quarterly results on Friday. Pharmaceutical group Biota Holdings shed 40.5 per cent in April on a likely fall in the royalties it receives for its flu vaccine.

Consumer staples big-hitter Woolworths had a bad month, including eight straight sessions in the red, to be 3.5 per cent lower for April on Friday. It announced third-quarter sales of 4.7 per cent across the group on Friday which were in line with rival Coles’s growth.

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Coles’s owner Wesfarmers failed to inspire investors with shares down 8.4 per cent for April on Friday, having also notched up up a sizable losing streak.

The materials and energy sectors had a forgettable April as metals prices fell and uncertainty over the slated resource tax grew.

The London Metal Exchange index was down about 4.18 per cent for the month.

Gold fared better. Spot prices on Friday were 5.3 per cent higher for April as investors took refuge.

Rising prices and bubbling takeover activity saw gold stocks Eldorado Gold and Lihir Gold post gains of more than 25 per cent for April to be the month’s two biggest winners on the S&P/ASX 200.

Shares in the pair were pumped by takeover speculation as Newcrest continued to chase Lihir Gold.

Other takeover activity saw Chinese giant Bright Food make an official offer for CSR, while Macarthur Coal continued to be chased by suitors including Peabody.

National Australia Bank’s planned takeover of Axa Asia Pacific Holdings was blocked by the Australian Competition and Consumer Commission but Royal Dutch Shell and PetroChina received approval from Australia’s Foreign Investment Review Board to buy gas producer Arrow Energy for $3.5 billion on Friday.

Investors’ attention turns to the Reserve Bank of Australia’s meeting next week, the market already forecasting a quarter-of-a-percentage point rate hike, while United States economic growth data would also be watched closely on Friday night.